Vintage automobiles excite not just the established connoisseur but many young aspiring collectors who love the energy and have a fascination for the automobile, its history, engineering, design, sexiness and speed, said Neville Tuli.Shailesh Menon | ET Bureau | Updated: January 04, 2016, 18:39 IST

Could you tell us a bit about the trend of people collecting vintage/classic cars?

Neville Tuli: Vintage and classic automobiles are probably one of the fastest growing collectible investments in the world.

It excites not just the established connoisseur but many young aspiring collectors who love the energy and have a fascination for the automobile, its history, engineering, design, sexiness and speed.

Europe and USA are natural leaders given the production and development of global financial and auction markets.

You’ve opened a business vertical specialising in vintage cars. Tell us a bit more.

Neville Tuli: Osianama had started its focus on the vintage and classic automobile in 2011 initially as part of building its vast cultural and artistic knowledge-base.

It opened for public a detailed analysis and documentation of all significant vintage and classical cars in the world, starting naturally with India.

Here you can find the first stage of over 500 top quality automobiles which have been and still are in India. It is a free and priceless knowledge base developed by our in-house team.

What does it takes to be a vintage car collector?

Neville Tuli: As with all collectibles, it is history and its solid precise scholarly documentation which becomes the basis of further knowledge and naturally the accompanying auction markets which create a credible economic market as with art, film and popular cultures and other areas such as wine, jewellery etc.

Without proper paperwork and registration formalities, most transactions are in the black economy and hence any price and valuation framework has a long way before achieving credibility.

Many collectors exist today, from the Royal Families such as Gondal, Holkar, Wankaner, Udaipur, Jodhpur, who traditionally have been the great patrons and collectors of the vintage and classic car to the next post independence generation of private collectors such as the late Bhogilal Family Collection and Museum.

More recent collectors such as Tarun Thakral, are one of the very few who have also built the necessary infrastructure (Transport Museum just off the Jaipur- Delhi Highway) to nurture and take forward their love for the subject.

What’s the latest trend among vintage collectors in India?

Neville Tuli: Recent collectors such as Dr Ravi Prakash, Harit Trivedi, Vikram Singh and Diljeet Titus are slowly beginning to participate in international fairs such as Retromobile and Goodwood, a good sign of growing awareness.

The success of recent auctions such as the Artcurial sale at Retromobile 2015 naturally speeds up all involvement as prices rocket.

That restoration costs are relatively low in India helps to some extent, but with the archaic import laws and exorbitant duty structure, there is absolutely no support or vision from any government in helping India emerge as a major vintage and classic car market or in nurturing it as a major cultural and artistic object.

There are a lot of under-the-table dealings here, am told…

Neville Tuli: Without proper paperwork and registration formalities, most transactions are in the black economy and hence any price and valuation framework has a long way before achieving credibility.

The destruction of the black economy is fundamental for any credible market to emerge.

It was exactly how the art market was in the early 1990s. Thus a few are taking advantage buying cheaply but very minimal value is getting created for the whole system at present.

What about preservation? How well-maintained are vintage cars in India?

Neville Tuli: Storage and care during the monsoons is another problem which limits who can own and preserve this automobile heritage.